Pro-active steps by the Government: Income Tax Compliance Date Extended again to 30th September 2020 – New Compliance Chart of the Revised Dates




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Pro-active steps by the Government: Income Tax Compliance Date Extended again to 30th September 2020 – New Compliance Chart of the Revised Dates

Government is proactively working on giving the relaxation for tsax compliance. Now,  Central Board of Direct Taxes (CBDT) has again extended the last date for filing ITR for AY 2019-20 (FY 2018-19) to 30/09/2020. Earlier, the date was extended from July 31 from 31st March 2020.

The tweet from Income Tax department today said,

“In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020, vide Notification in S.O. 2512(E) dt 29th July, 2020.”

Taxes paid before the new extension will be treated as advance tax. An official notification of CBDT said: “in case of an individual resident in India referred to thes ub-section (2) of Section 207 of the Income Tax Act, 961 (43 of 19610, the tax paid by him under section 140A of that Act within the due date (before extension) provided in that Act, shall be deemed to the advance tax.”

The notification reads as under:

Due date for furnishing return of Income (ITR) for AY 2019-20 extended to 30.09.2020

 Due date for furnishing return AY 2019-20 extended 

MINISTRY OF FINANCE
(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 56/2020

New Delhi, the 29th July, 2020

 TAXATION AND OTHER LAWS

S.O. 2512(E).–In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020), the Central Government hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, number 35/2020, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 2033(E), dated the 24th June, 2020, namely:-

 (i) in the first proviso, in clause (i), in sub-clause (a), for the words, figures and letters “the 31st day of July, 2020” the words, figures and letters “the 30th day of September, 2020” shall be substituted;

(ii) after the second proviso, the following proviso shall be inserted, namely: 

“Provided also that for the purposes of the second proviso, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Income-tax Act, 1961 (43 of 1961), the tax paid by him under section 140A of that Act within the due date (before extension) provided in that Act, shall be deemed to be the advance tax:”.

2.This notification shall come into force from the date of its publication in the Official Gazette.

[F. No. 370142/23/2020-TPL]

NIRAJ KUMAR,
Dy. Secy. (Tax Policy and Legislation Division)

Note:-The principal notification number S.O. 2033(E), dated the 24th June, 2020 was published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), dated 24th June, 2020.

As a result of above notifications, the due dates of various compliances is summarized hereunder:

1. The due dates for filing Belated or Revised Income Tax Return for the FY 2018-19 has been now extended to 30/09/2020.

 1. Extension of due dates relating to Income-Tax Returns (ITR), Audit report etc  for the FY 2019-20 is as under:

Nature of compliance

Original Due Date

Due date extended by the

Ordinance 2020

New due dates notified on 24-

06-2020
(a) If assessee is required to furnish a report of transfer pricing (TP) Audit in Form
No. 3CEB.
30-11-2020
–
30-11-2020
(b) ITR by company Assessee
31-10-2020
–
30-11-2020
(c) ITR by any Assessee who is required to get its accounts audited under the Income- tax Act or under any other
Law
31-10-2020
–
30-11-2020
(d) ITR by an Individual Assessee who is a partner in a firm whose accounts are required to be audited.
31-10-2020
–
30-11-2020
(e) In any other case
31-07-2020
–
30-11-2020
Sending an intimation after processing of return of income (ITR), if the return is filed during the FY 2018- 19:
(a) Under section 139; or
(b) In response to a notice issued under section 142(1)
31-03-2020
30-06-2020
31-03-2021
Scrutiny     assessment     under Section       143(3)      for       the
AY 2018-19.
30-09-2020
–
31-03-2021
Scrutiny     assessment     under Section 144 for the AY 2018-19.
30-09-2020
–
31-03-2021
Time-limit to issue a reassessment notice, if it expires during 20-03-2020 and 31-12-2020
–
–
31-03-2021
Furnishing of Tax Audit Report for the AY 2020- 21
30-09-2020
–
31-10-2020

 3. Extension of due dates relating to TDS & TCS Compliances is as under: 

Nature of compliance

Original Due Date

Due date extended by the

Ordinance 2020

New due dates notified on 24-

06-2020
Form 24Q, 26Q, 27Q and 27EQ of 4th Quarter 4  of  the  FY 2019-20
31-05-2020
30-06-2020
31-07-2020
Form 24Q, 26Q, 27Q and 27EQ of  1st & 2nd Quarter of the FY 2020-21
Rule 31A/31AA
–
31-03-2021
Form 24QB, 24QC and 24QD of Feb. 2020
30-03-2020
30-06-2020
31-07-2020
Form 24QB, 24QC and 24QD of March 2020
30-04-2020
30-06-2020
31-07-2020
Form 24QB, 24QC and 24QD of April to November, 2020
30 days
from end of the month of TDS
–
31-03-2021
Form 16 for tax deducted from
15-06-2020
30-06-2020
15-08-2020
salary paid during the FY
2019-20
Form 16A for tax deducted from Payments (other than Salary for Quarter ending 31st March 2020
15-06-2020
15-07-2020
15-08-2020
Form    16B/16C/16D  for    tax
14-04-2020
15-07-2020
15-08-2020
deducted under section 194-
IA/194-IB/194M            during
February 2020
Form    16B/16C/16D  for    tax
15-05-2020
15-07-2020
15-08-2020
deducted under section 194-
IA/194-IB/194M during March
2020
Issue of TCS certificate for the 4th Quarter of FY 2019-20
30-05-2020
15-07-2020
15-08-2020
February 2020
15-03-2020
–
15-07-2020
March 2020
30-04-2020
30-06-2020
15-07-2020
April to November 2020
Within 15 days from
the end of
–
31-03-2021
the month
Due date to send the intimation
31-03-2020
30-06-2020

 

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